President-Elect Donald Trump's Social Security Proposal Comes With Unintended Consequences

For an overwhelming majority of retirees, Social Security represents more than just a monthly check. It serves as a financial foundation for those who can no longer provide for themselves.For more than two decades, Gallup has been conducting an annual poll that questions retirees regarding their reliance on Social Security. Between 80% and 90% of respondents -- including 88% in April 2024 -- have noted that their Social Security benefit is a "major" or "minor" source of income. In other words, close to 9 out of 10 seniors would financially struggle if this program didn't exist.But despite being vital to the financial well-being of our nation's aging workforce, this nearly 90-year-old program is in trouble. Fixing it will require a plan of action from lawmakers -- and this includes President-elect Donald Trump.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool